Providers and fund managers have shown "complete inconsistency" over issues such as legacy trail and facilitating adviser charging - showing they were underprepared for the Retail Distribution Review (RDR), according to the Personal Finance Society (PFS).
Chief executive Keith Richards said the biggest challenge for advisers post-RDR was not communicating the changes to clients but dealing with variations in providers and fund managers processes. In an exclusive interview with IFAonline, he said the disparities "seemed to create noise and concern" in the first and second quarters of the year. "It demonstrated that they were not as well prepared for RDR as they could have been. "All the focus had been how well advisers would be prepared. From what we can see it seems to have gone pretty much without major impact, but perhaps that is ...
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